Unlocking Cost Savings in Manufacturing with Simfoni’s Strategic Spend Terminal

With increasing competition and rising costs in the manufacturing industry, every dollar saved contributes directly to your bottom line. Simfoni’s Strategic Spend Terminal empowers manufacturers to uncover hidden cost-saving opportunities, streamline procurement processes, and achieve sustainable growth through data-driven insights....

January 23, 2025

Spend Management

Elevating Procurement Excellence: Navigating Simfoni’s Sourcing Pipeline

Simfoni’s Stefan Dent takes the stage at ISM World to demystify the problem of tail spend. Simfoni.com Tweet In the realm of innovative procurement solutions, Simfoni’s closed-loop platform stands out as a beacon of efficiency and optimization. Today, we shine...

August 23, 2023

Spend Management

4 Spend Data Differentiation Strategies That Will Set Your Company Apart

Data is one of our most important assets in 2023. Companies are using data to improve their products and services, understand their customers better, and make better business decisions. However, not all data is created equal. For companies to truly...

April 12, 2023

Spend Management

3 Ways to Ensure High Quality Spend Data

High-quality spend data is essential for any business looking to optimize its procurement processes. However, achieving this can be challenging. Procurement data, and in particular indirect, or ‘tail spend,’ can be difficult to manage. If left unchecked, this can lead...

March 8, 2023

Spend Management

Spend Under Management Part Three: Achieving the ‘Closed-Loop’ Spend Management Model

In our previous two installments, we’ve discussed the spend-under-management (SUM) framework. Specifically, how it provides executives with a simple outcome-based model that drives the necessary organizational changes needed within the procurement function to capitalize on unrealized savings. SUM transforms what...

March 2, 2023

Spend Management

Spend Under Management Part Two: The 5 Key Principles of Proper Spend Management

In our last post, we discussed adopting spend under management (SUM) and the first of the five principles: Spend Under Management Part One: Connecting Procurement to Your Core Business Spend Under Management Part Two: The 5 Key Principles of Proper...

February 15, 2023

Spend Management

Spend Under Management Part One: Connecting Procurement to Your Core Business

Procurement is still often seen as a non-strategic back-office function. This is because practitioners often focus too narrowly on measuring cost savings directly from sourcing initiatives and lose sight of how those initiatives impact core financial metrics—such as total cost...

February 8, 2023

Spend Management

3 Ways Machine Learning Helps Manage Spend

NOT JUST A BUZZWORD—HERE ARE 3 WAYS MACHINE LEARNING HELPS MANAGE SPEND Simfoni.com Tweet When running a successful business or organization, the bottom line is everything. That’s why classifying spend and keeping track of where the money goes after it leaves your organization’s...

February 3, 2023

Spend Management

3 Ways Proper Spend Management Can Ease Inflationary Pressures

All companies are navigating an uncertain market due to high inflation, which challenges the traditional ways companies typically seek out savings. While inflation usually eats into their bottom line, some companies see it as an opportunity to create a competitive...

January 26, 2023

Spend Management

Procurement in Private Equity: The Opportunities, Challenges, & Solutions

A penny saved is a penny that can be put to work yielding larger returns for investors. Simfoni.com Tweet Smarter management of spend categories and enhanced insights of overall spend can bring immediate and robust cost savings to businesses, however,...

October 12, 2022

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